April 15, 2022

Brown Statement On The Vice Chair Of Supervision Nominee

WASHINGTON, D.C. – Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after President Biden announced the nomination of Michael Barr for Federal Reserve Vice Chair for Supervision:

 â€œNow more than ever, we need a full Fed Board – including a Vice Chair of Supervision. The Vice Chair of Supervision plays a critical role in protecting our financial system and must prioritize strong financial regulation, and identify and stay ahead of risks to our economy. At a time when working families are dealing with rising prices while corporate profits continue to soar, this job is vital to ensuring the economy works for everyone. Michael Barr understands the importance of this role at this critical time in our economic recovery. The Senate previously confirmed him by voice vote. I will support this key nominee, and I strongly urge my Republican colleagues to abandon their old playbook of personal attacks and demagoguery and put Americans and their pocketbooks first.”